A substantial freehold property at the heart of Redcliffs’ commercial centre has become available presenting developers with a rare chance to capitalise on the Christchurch suburb’s evolving demographic.
The vacant former New World supermarket at 188 Main Road spans 2,796sq m on a prominent corner location with a 2,309sq m building and is being exclusively marketed by Colliers.
Courtney Doig, Director of Investment Sales at Colliers Christchurch, says the site represents one of the most significant redevelopment prospects to emerge in the coastal community.
“This is a rare chance to secure a substantial holding in the heart of Redcliffs and developers have the flexibility to exploit various options from retail and healthcare to community services or apartments,” Doig says.
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The waterfront suburb has recently transformed from a predominantly retirement community to one increasingly attracting young families and couples.
This demographic shift was accelerated by the opening of the new Te Raekura Redcliffs School on a modern campus in 2020, creating fresh demand for quality housing options and the services families desire nearby.
“Redcliffs continues to be one of Christchurch’s most sought-after areas, renowned for its scenic setting, strong community feel, and affluent residential base,” Doig says.
“While it’s unfortunate the supermarket didn’t succeed for Foodstuffs, who originally developed and owned the land, the changing character of Redcliffs has created new possibilities for development that better align with the area’s evolving needs.
“The building benefits from exceptional street exposure and captures high volumes of both vehicle and pedestrian traffic along Main Road, the primary arterial route linking the eastern coastal suburbs.”
It also has extensive on-site parking – a genuine point of difference in a neighbourhood where parking is often limited.
“The shortage of large format retail buildings of this scale, along with the limited availability of commercially zoned land in the area, makes this a rare opportunity for value-add buyers looking to capitalise on the existing improvements and is expected to transact at a price well below replacement cost.”
Its corner position offers exceptional signage visibility and profile, while the location serves the wider Mount Pleasant, Moncks Bay, Sumner, and Ferrymead catchments.
An existing resource consent to convert the building into high-end apartments had been obtained by the vendor, Fletcher Residential Ltd.
The design by Herriot Melhuish O’Neill Architects is to convert the complex into 22 apartments comprising eight three-bedroom, 10 two-bedroom, and four one-bedroom units, all with covered parking.
“This site has a Commercial Core Zone designation and the approved apartment conversion offers residential builders the added advantage of a clear pathway with planning hurdles already overcome and the internal supermarket fit-out largely removed,” Doig says.
The asset is offered for sale by deadline private treaty, closing at 4pm on Wednesday 5 November, unless sold prior.
- Supplied by Colliers
